Income Tax Slab For Ay 2024-25 New Regime. 7 lakh, up from the previous limit of rs. Further, the income rates under the new income tax regime have also been tweaked. The section 87a rebate in the new tax regime now applies to taxable incomes of up to rs.
Get the information about the current income tax slabs for individuals, senior citizens and super. It’s important to note that while no adjustments.
A) Change In Tax Slab Of ‘New Tax Regime’.
The old tax regime provides three slab rates for income tax levy, which are 5%, 20%,.
7 Lakh, Up From The Previous Limit Of Rs.
The section 87a rebate in the new tax regime now applies to taxable incomes of up to rs.
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If You Are Opting For The New Income Tax Regime, Then Your Income Tax Liability Will Be 0, Taking Into Account The Eligibility Limit For Rebate Till Rs 7 Lakh And The Standard Deduction Of Rs 50,000.
These slab rates differ for different taxpayer groups.
In Budget 2023, Rebate Under New Regime Has Been Increased To Rs.
C)extend the benefit of standard deduction to the ‘new tax.